Wipro: IT service providers and employee representatives have agreed to form a European Works Council (EWC). The first EWC established by a company with its headquarters in India was that of Wipro. European Union regulations that introduce opportunities in businesses with more than 1,000 employees across European locations prompted the establishment of EWC to respond to employee requests.
One 97 communication: SoftBank is looking to divest a $215 million stake in Paytm as the lock-in for pre-IPO investors ends this week, according to Bloomberg. The Japanese investor offered to sell 29 million shares in the company at Rs 555 to Rs 601.45 each, at a discount of up to 7.72% to the current market price.
Aurobindo Pharma: Company has received Establishment Inspection Report from USFDA for Unit XI, Non-Antibiotic API Manufacturing Plant at Pydibhimavaram, Andhra Pradesh. The unit was inspected by the USFDA in February 2019 and issued a warning letter in June 2019. The unit was further inspected by the USFDA between July 25 – August 2 and issued a Form 483 with 3 observations.
Cholamandalam Financial Holdings: ICICI Prudential Mutual Fund under its various schemes bought 3.04 million shares of the company through open market trading on November 14. Therefore, the fund’s shareholding increased by 2.04% to 7.11%, from 5.07% previously.
Tathagata energy: Tata Power Solar Systems, a subsidiary of Tata Power Renewable Energy, has tied up with Union Bank of India, to help the MSME sector transition to solar solutions. The purpose of this partnership is to improve access to green energy and save electricity costs, thereby making MSMEs more profitable.
Bikaji Foods International: Goldman Sachs fund – Goldman Sachs India Equity Portfolio – bought 17.45 million shares in the ethnic snacks company at an average price of Rs 324.5 per share.
